Published: 23 August 2017

Impala Platinum, the parent company of Zimbabwe's largest platinum producer Zimplats, says its headline loss per share for the year ended June 30, 2017 is expected at between 125 and 150 cents per share.

This does not compare well to the headline earnings per share of 12c recorded in the previous parallel period.

Implats attributed the headline loss per share to the gross loss for the period and the negative impact on income tax credit of higher profits for Zimplats, as well as a non-recurring tax credit on a bad debt in the prior year.

"The major reason for the decline in HEPS from the comparative period is that the prior year gross profit declined to a gross loss in the current year.

"In addition, the income tax credit was significantly negatively affected by both an increase in additional profits tax for Zimplats in the current year and a non‐recurring tax credit on a bad debt in the prior year," said the group in a trading update.

Meanwhile, the South Africa-headquartered platinum group will publish its results on September 14.
- BH24

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